Relationship selling through service mkt 173 chap 11

The Tree of Business Life: ObjectionsWelcome Objections!What Are Objections?When Do Prospects Object?Objections and the Sales ProcessBasic Points to Consider in Meeting ObjectionsSix Major Categories of Objections

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Main Topics Techniques for Meeting Objections Technology Can Effectively Help Respond toObjections! After Meeting the Objection—What to Do? In All Things Be Guided by the Golden Rule

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The Tree of Business Life: ObjectionsGuided by The Golden Rule:Rule Welcome objections. Remember that objections may allow you to

answer the prospect’s concern(s). Realize your product or solution may not befor everyone.

 If it is not for a particular customer, thank

him and politely leave If it would benefit the customer, politely,professionally, and ethically show how theproduct could be useful

Welcome Objections! Accept objections as achallenge. People do not want to be takenadvantage of. Learn to overcome objections –do not fear.

What are Objections? Opposition or resistance to information or thesalesperson’s request is an objection.

 Prospect who presentsobjections is often moreeasily sold.

When Do Prospects Object? A prospect may object at any time duringsales call. Always be ready to handle a prospect’sobjections. Quickly determine what to do.

Exhibit 11-1: When Objections Occur,Quickly Determine What To Do

Basic Points to Consider in MeetingObjections Plan for objections. Anticipate and forestall. Handle objections as they arise. Postponement may cause a negative mentalpicture or reaction

Basic Points to Consider in MeetingObjections, cont… Postponement of objections may result in: Prospect may stop listening Prospect may feel that you have something to hide You also feel that it’s a problem You cannot answer because you don’t know theanswer May appear that you’re not interested in prospect’sopinion

Basic Points to Consider in MeetingObjections, cont. Be positive. Use positive body language Do not take objections personally – no hostility

 Listen – hear them out. Listening Guidelines – Chapter 4

Basic Points to Consider in MeetingObjections, cont… Understand objections: Request for information A condition Objection that turns into a condition of the sale Negotiation can overcome a condition “Hopeless” Major or Minor objections (true objections) Practical (overt) or Psychological (hidden) objection A real objection is tangible The salesperson must uncover hidden objectives andeliminate them

Exhibit 11-2: What Does a ProspectMean by an Objection?IsIs thethe prospect’sprospect’sresponseresponse a...a...

RequestRequest forfor moremoreinformation?information?

Condition?Condition?

Major?Major?

Practical?Practical?

Psychological?Psychological?

HopelessHopelessobjection?objection?

TrueTrue objection?objection?

Minor?Minor?

Practical?Practical?

Psychological?Psychological?

Exhibit 11-3: Examples of Objections

How Do You Handle Sales Objections? The sales objection may: Ask for information Give strong resistance Remember you want to help the person.

Exhibit 11-4: Six Major Categories ofObjections

Six Major Categories of Objections1. The hidden objection2. The stalling objection (“I’ll think it over…”)3. The no-need objection (“…but I’m not interestednow.”)

4. The money objection5. The product objection6. The source objection

Six Major Categories of Objections1. The hidden objection – prospect who askstrivial, unimportant questions or conceals hisfeelings beneath a veil of silencea. Salesperson must ask questions and carefullylisten in order to smoke out prospect’s realobjectionsb. Smoke out hidden objections – ask questions,observe, “read between the lines” – prospect maynot know what the objections are; as last resort,may have to ask what objections are

Six Major Categories of ObjectionsHidden objections, cont…Consider the following questions:1. What would it take to convince you?2. What causes you to say that?3. Tell me, what’s really on your mind?

Six Major Categories of Objections2. The stalling objection – prospect says, “I’ll thinkit over,” or “I’ll be ready to buy on your next visit,”must determine if truth or smokescreen designed toget rid of you – common tactica. One of toughest to overcome arises when sellinga new productb. Buyer says she has to get approval fromsomeone else. Buyer’s attitude toward productwill influence buying decision – make it positive

Six Major Categories of Objections2. The stalling objection, cont…

c. Let buyer know you are on her side and help her

d.e.f.

with her objections. If she does not respond giveher multiple choice question to display genuineattitude of caringDo not get demanding, defensive, or hostileGoal is to help prospect realistically examinereasons for and against buying nowMain idea is not to be satisfied with falseobjection or stall. Bring out any or all main sellingbenefits and KOS

Six Major Categories of Objections3. The no-need objection – prospect says, “…butI’m not interested now,” and he stays as hepresently isa. This is widely used because it gets rid of thesalespersonb. It is tricky because it also includes a hiddenobjection or a stall

Six Major Categories of Objections4. The money objection – encompasses severalforms of economic excuses and is simple for thebuyer to saya. Respond by saying that it is risky to discuss priceuntil it can be compared to product’s benefits.Once you convey product’s benefits, pricebecomes secondary factor which usually can bedealt with successfullyb. Quote price and go right on selling